PETALING JAYA: Concerns are arising on the effects of the Hormuz Strait closure due to the ongoing conflict in the Middle East.
This has resulted in major disruption to shipping for all sectors, causing freight rates and charter levels to skyrocket.
Economists and analysts, however, maintained that the impact on the Malaysian economy and corporations would be limited and indirect.
The Hormuz Strait, with a width measuring only 39kms to 97kms, is the transit way for nearly one-fifth of the world’s oil and liquefied natural gas (LNG) flows.
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